in Business Loans from Fundbox
Strongly not recommended
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|Community Rating||Strongly not recommended|
|Loan Amount||$100 - $100,000|
|APR||15% - 59%|
|Loan Term (Months)||3 - 6|
Where does Fundbox do business?
Fundbox is a financial services corporation based in San Francisco, CA. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC).
What are Fundbox’s rates?
Fundbox offers business loans with fixed APRs starting from 15% to 59%.
Does Fundbox charge an origination fee?
No, Fundbox does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What limitations does Fundbox set on the purpose of the loan?
Fundbox considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does Fundbox offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Fundbox provides access to the following business loan types:
- Lines of Credit
- Invoice Financing
Does Fundbox charge prepayment fees?
No, Fundbox does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from Fundbox?Loan amounts start at $100 and go up to $100,000.
What is the maximum loan term you can get with Fundbox?
Fundbox offers business loans with terms ranging from 3 to 6 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Fundbox?
Applicants with a credit score of at least 300 can apply for a loan via Fundbox. Fundbox does not require borrowers to have been in business for a minimum number of years.Businesses must have a minimum annual revenue of $25,000 to be considered.
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via Fundbox?
Fundbox can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Minimum Months in Business||0|
|Verification Documents Required||
|Loan Amount||$100 - $100K|
|Loan Term (Months)||3 - 6|
|APR (Fixed APR)||15% - 59%|